Please answer each of the following questions in detail. Provide in-text citations and
include examples whenever applicable.
1. Please explain fixed and flexible budgeting.
a. Provide an example of budgeting for three consecutive periods in which safety
margin is included for flexibility
2. Explain statement of cash flows proforma and its significance in budgeting.
a. Provide a hypothetical example of a statement of cash flows in a manufacturing
Assignment 2 :
Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted
sales and cash payments for product costs for the quarter follow. (see attachment below)
Sales are 20% cash and 80% on credit. All credit sales are collected in the month
following the sale. The June 30 balance sheet includes balances of $15,000 in cash;
$45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in
loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the
end of any month when a cash shortage occurs. Interest is 1% per month based on the
beginning-of-the-month loan balance and is paid at each month-end. If an excess balance
of cash exists, loans are repaid at the end of the month. Operating expenses are paid in
15 of the month incurred and consist of sales commissions (10% of sales), office salaries
($4,000 per month), and rent ($6,500 per month).
Prepare a cash budget for each of the months of July, August, and September. (Round
amounts to the dollar.)
Please explain your work in detail and provide in-text citations. Include the initial situation
and the initial assumptions in your answer. At least 5 references are required among
which one should be the textbook as the source of the data.
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